Read the latest research report by our Chief Investment Officer Tim Travis on Citigroup (C). Citigroup: Bank on Mr. Market’s Unfounded ParanoiaRead More

Today Citigroup reported 4th quarter earnings that beat analyst estimates.  Profits were about $3.4 billion in the quarter or $1.06 per share.  For the full year the company earned $17 billion dollars, or $5.40 per share.  Book value and Tangible book value increased to $69.46 and $60.61, respectively.  Citi Holdings Assets declined by 43% from...Read More

As part of our effort at T&T Capital Management (TTCM) to educate our clients on our positions, I wanted to provide a few quick updates.  Macy’s (M) is obviously a very well know and well run retail operation.  The 52-week range is $34.05-$73.61.  The stock has plummeted as retails sales have been a bit disappointing...Read More

I’ve been writing about the divergence between the fundamentals of our businesses that we are invested in versus the stock prices due to a recent market panic.  To dive deeper into this I wanted to touch on General Motors common stock.  This is a position we have done well in over the years through the...Read More

2016 has started with a panic and most markets are in correction territory from recent highs.  One can’t point to any specific data point to explain the declines.  China has a serious stock market problem.  It has been overvalued for a long time and there are certainly some considerable structural flaws to that economy.  It’s...Read More

Well 2016 has certainly began with a roar of negativity.  We’ve had Iran and Saudi Arabia severing diplomatic ties at a crucial time for the Middle East, North Korea claiming to have launched a hydrogen bomb, and China has had two 7% declines that shut down its stock markets.  In addition the Chinese Yuan has...Read More

Below is a good little video from Bloomberg about Warren Buffett’s Berkshire Hathaway being down about 12% in 2015.  Also I saw that Bill Ackman’s Pershing Square, which was one of the best performers in 2014 was down more than 20% for the year, so I’ll share that article too.  This is why I always...Read More

As we begin a new year I’m struck by the level of pessimism that pervades the outlook for stocks, bonds, commodities, etc.  It is important to note that “market feeling” and $5 might buy you a cup of coffee at Starbucks, but nothing more.  It is highly irrelevant in predicting market returns and if anything,...Read More

On December 24th, Puerto Rico, creditors, and the bond insurers’ came to an agreement to restructure the debt of the island’s electric utility PREPA.  PREPA has about $8.2 billion in debt in total, a significant chunk of the island’s roughly $70 billion in debt.  Basically the creditors are taking a 15% hit on their bonds,...Read More

Investing is the idea of buying a security or an asset, that on the basis of fundamental research, allows you to believe that in time the security or asset will be worth more than what you paid for it in the first place.  The securities that we are buying are fractional shares of actual businesses,...Read More